Company to Offer 57.7 Million Shares at Expected $12 to $14 a Share

LendingClub Corp. on Monday said it raised the price range for its initial public offering by $2, which would imply a higher valuation than the company had been pegged at during a recent round of private investment.

The company, which uses an online platform to connect borrowers and lenders, said its new price range is $12 to $14.